Get started

Dragonhead

Litecoin Dragon Head BreakoutLitecoin looks like it is consolidating further after the retracement it suffered with the rest of the crypto market. It looked like an inverse head and shoulders was forming, but this now looks to be a flag. Either way, it appears to be the fourth and final stage of the dragon head pattern, and we should see a breakout after this. The fourth stage is characterized by ranging which may last another day or so. Watch for support below at $117. After we break out, $141, $151, $167 and $186 are all profit targets.
BITSTAMP:LTCUSDLong
by quantguy
Next Price Target for LitecoinLitecoin appears to be in the final stages of a dragon head pattern as well. It has grown a lot more modestly than Bitcoin or Ethereum which have absolutely exploded. This makes it slightly less risky, since there are not these oceans of vacuum zones below to serve as targets when volatility picks up. This is a great long term hold, and it is still affordable to own a whole Litecoin. it is currently sitting at $153, which is perfectly in line with our Fibonacci extension. The next level will be $173, and is our next price target.
BITSTAMP:LTCUSDLong
by quantguy
4
Litecoin Dragon Head Breakout SoonLitecoin has remained sluggish, commensurately with Bitcoin, ranging at around $240 at the time of this writing. We do appear to be forming a dragon head pattern, so a breakout can be expected, though LTC seems slow to get the memo. We have tested and rejected the lower bound of the KRI, which is a good sign for LTC bulls. The Kovach OBV has remained bullish, and the Kovach Chande appears to be turning from a bearish run which indicates the time might be nigh to add to a position. We have strong support from below at $236, a nested Fibonacci Level, and face resistance from above at $272, the central moving average of the KRI, and a nested Fibonacci extension level at $288. We do appear to be starting Wave 3 of the impulse of a 5-3 Elliott Wave, though it has gotten off to a very unimpressive start. Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here !
BITFINEX:LTCUSDLong
by quantguy
EOS Breakout NearEOS, like many cryptocurrencies faced a setback with the Santa Claus effect, but looks primed for another breakout. It appears to be in the consolidation phase, the fourth and final phase of the dragon head pattern. In Cryptocurrencies, a breakout is a virtual certainty with this pattern. We appear to be in the first segment of a new Elliott Impulse wave, so there is still time. Both Kovach Momentum indicators are still strong, and the price hasn't caught up yet. Also, we are hovering at a strong Fibonacci Level which should provide support. If you're interested in my indicators, check them out here ! Also, check out our daily newsletter !
BITFINEX:EOSUSDLong
by quantguy
Bitcoin Cash BreakoutBitcoin Cash has continued its rally, pulling back only slightly to join IOTA in entering the second phase of the impulse wave. It is a banality at this point to mention that we have been pushing the upper bound of the KRI during this breakout, and a red triangle marks a brief retracement, that should portend a possible buying opportunity especially if BCH retraces further. Watch for it to form a dragon head formation before breaking out again. Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here ! For daily commentary on cryptocurrencies, subscribe to our newsletter !
BLong
by quantguy
XRP Winding Up for Another BreakoutRipple still appears to be consolidating in a dragon head pattern, finding support around $0.70 a psychological level which coincides with a Fibonacci level. Clearly some retracement should be expected after XRP’s breakout in mid-December. We anticipate further pullback, optimally to $0.52 or so which corresponds with a Fibonacci Level and the central moving average of the KRI. But $0.60 would serve as a more conservative option. Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here ! For daily commentary on cryptocurrencies, subscribe to our newsletter !
BITSTAMP:XRPUSDLong
by quantguy
1
IOTA Breakout... As AnticipatedAs noted yesterday in our newsletter, IOTA was indeed coiling up for another breakout as it rejected the central moving average of the KRI, and broke out from the dragon head pattern, testing the upper bound of the KRI before letting up steam. It seems IOTA is a bit ahead of the other Altcoins in terms of the Elliott Wave. It appears to have completed the corrective phase, and has begun the impulse phase of the next wave. Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here ! For daily commentary on cryptocurrencies, subscribe to our newsletter !
BITFINEX:IOTUSDLong
by quantguy
Ethereum Pauses after Meteoric RiseETH has continued its breakout, but momentum is waning at the $690 Fibonacci Level. After new highs broke upwards of $750, we have retreated to the safety of the $600 handle. The Kovach Momentum Indicators paint a rosy outlook in the long term, even if we have hit a speed bump here. Multiple levels provide support from be low, and we should be prepared for a dip to $620, followed by some consolidation as we form the dragon head pattern so often observed in crypto currencies. Any dip or consolidation should be considered a buying opportunity.
BITFINEX:ETHUSDLong
by quantguy
Litecoin Crushes $300LTC has continued its breakout with momentum that seems to challenge IOTA’s run weeks earlier. It has demolished technical and psychological levels, finally finding some resistance around new highs in the $300 handle. We are likely to see consolidation and retracement, at some point, into a dragon head pattern before another breakout. The nested Fibonacci Extension Level of $255 seems like a great entry point, but at this point it might be a dream. Consider any pullback a buying opportunity. If you like this commentary, check out our *daily* crypto newsletter !
BITFINEX:LTCUSDLong
by quantguy
3